Are we slowly but surely moving towards a true scarcity of the amount of available Bitcoin (BTC)? Regardless, that’s what new data revealed by Clark Moddy’s Bitcoin dashboard suggests. They show that only 9% of BTC units are left to be mined in the next 100 years.
Bitcoin becomes rare
“Only 9% remain to be mined over the next 118 years,” We can read in recent publications Bitcoin Magazine, which draws on data from Clark Modi Bitcoin. According to the data platform, 91% of BTC has been mined.Therefore, there is also Less than 1.9 million BTC emission. According to the data, the scarcity of Bitcoin (BTC) tends to increase.
If BTC turns out to be even rarer than it is now, there is a good chance the cryptocurrency will strengthen its status as a deflationary currency. In fact, the total supply is limited to 21 million units.It should also be noted that the rewards for experts mining Can Increase to 6.25 BTC per block ‘s cryptocurrency.
Although the prospects for experts in the field are slim mining, several people are planning to enter the field. Therefore, even in rare cases, BTC proves that it remains the king of cryptocurrencies.
Countries’ Responses to Scarcity
Countries that use Bitcoin as the backbone of their economic systems may be sympathetic to the scarcity of Bitcoin (BTC). This is the case in El Salvador.Although the country has Adopt Bitcoin as Fiat Currency In 2021, the price of cryptocurrencies has not stopped falling. It is down more than $48,000 from its previous high. Still, El Salvador does not intend to abandon it.
Nayib Bukele country still trusts the king of cryptocurrencies. It continues to gain more while pursuing a buy strategy.Meanwhile, authorities are launching new centers mining for increase the number of bitcoins domestic.
Some countries prefer to play the cautious card.For example, although Sweden said it would enter the cryptocurrency space, it revealed that it prefers Save electricity Create jobs instead of using digital assets for their benefit.
Over time, data shows that the amount of BTC available is decreasing. That said, analysts remain optimistic even as we lean toward true scarcity. They believe that the value of cryptocurrencies will be further enhanced because a scarce commodity is necessarily a valuable commodity.
Source: Bitcoin Magazine
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Luke Jose Aguinacu
An unsuccessful investment in cryptocurrencies in 2017 did not dampen my enthusiasm, but increased it. Therefore, I decided to study and understand blockchain and its many uses, and use my pen to convey information related to this ecosystem.